Bizdata Insights Main Logo

Energy Sector Seeks $900M Loans to Settle energy Bills

Industry: Energy & Power, LNG, Oil & Petroleum
Company: International Islamic Trade Finance Corp (ITFC)

The Energy and Mineral Resources Division is looking to secure an additional $900 million in loans from the International Islamic Trade Finance Corporation to address outstanding payments for crude oil imports in fiscal 2023-24. Similarly, the Bangladesh Oil, Gas, and Mineral Resources Corporation (Petrobangla) has sought a $500 million loan from the same organization to clear overdue payments to LNG suppliers and gas producers. The Bangladesh Petroleum Corporation (BPC) is also seeking an extra $400 million loan from the Islamic Trade Finance Corporation to settle refined petroleum products’ outstanding dues. The proposals will be discussed in a meeting on 23rd July 2023. Petrobangla and BPC’s loan requests come amid challenges in settling bills due to the current economic situation and the dollar crisis affecting the country. The loans aim to support the nation’s gas supply network and ensure uninterrupted energy operations.

Source for more details:

Related News

7.64% Consumers Pay Bribes for Power Connections

December 4, 2023

Despite the government's assertion of achieving 100% electricity access, a survey conducted by Micro Industries Development Assistance and Services (Midas) reveals that 7.64% of consumers still resort to bribery to secure power connections.

12kg LPG Cylinder Sees Tk 23 Price Hike

December 4, 2023

In December 2023,  the price of 12kg liquefied petroleum gas (LPG) cylinders increased to Tk 23, now set at Tk1,404. LPG (autogas) for vehicles rises to Tk64.43 per kg from Tk63.36. Government-supplied LPG remains unchanged. The hike, unrelated to global LPG prices, is attributed to the Taka's depreciation against the dollar.

Rooppur Nuclear Plant Plans to Begin Operations in Late 2024

December 3, 2023

Bangladesh anticipates initiating nuclear power generation at the 2,400-megawatt Rooppur nuclear power plant by late 2024 or early 2025, as Russia completes fuel delivery via air cargo due to shipping sanctions.

5 Renewable Projects Planned to Tackle Fuel Price Surge

December 3, 2023

Bangladesh is strategically shifting towards renewable energy investments in response to surging energy costs driven by the Ukraine War and a commitment to sustainable development. Currently, the country is evaluating five new renewable power projects with a combined 700MW capacity.

Intraco Set to Supply Gas From Bhola to Industries

November 30, 2023

Intraco Refueling Station is set to transport stranded gas from Bhola Island to industrial boilers near the capital, providing a breakthrough in gas supply amid shortages. The company plans to supply compressed natural gas (CNG) to the Gazipur and Bhaluka industrial belts initially, alleviating the low piped-gas pressure in these areas.

CrackPlatoon Unveils First Commercial EV Charging Station

November 29, 2023
CrackPlatoon Charging Solution Ltd., in collaboration with Dhaka Electric Supply Company Limited (DESCO) and Sumatra Filling Station, has inaugurated the first commercial electric vehicle (EV) charging infrastructure at Manikdi, Dhaka Cantonment.

Related News

7.64% Consumers Pay Bribes for Power Connections

December 4, 2023

Despite the government's assertion of achieving 100% electricity access, a survey conducted by Micro Industries Development Assistance and Services (Midas) reveals that 7.64% of consumers still resort to bribery to secure power connections.

12kg LPG Cylinder Sees Tk 23 Price Hike

December 4, 2023

In December 2023,  the price of 12kg liquefied petroleum gas (LPG) cylinders increased to Tk 23, now set at Tk1,404. LPG (autogas) for vehicles rises to Tk64.43 per kg from Tk63.36. Government-supplied LPG remains unchanged. The hike, unrelated to global LPG prices, is attributed to the Taka's depreciation against the dollar.

Rooppur Nuclear Plant Plans to Begin Operations in Late 2024

December 3, 2023

Bangladesh anticipates initiating nuclear power generation at the 2,400-megawatt Rooppur nuclear power plant by late 2024 or early 2025, as Russia completes fuel delivery via air cargo due to shipping sanctions.

5 Renewable Projects Planned to Tackle Fuel Price Surge

December 3, 2023

Bangladesh is strategically shifting towards renewable energy investments in response to surging energy costs driven by the Ukraine War and a commitment to sustainable development. Currently, the country is evaluating five new renewable power projects with a combined 700MW capacity.

Intraco Set to Supply Gas From Bhola to Industries

November 30, 2023

Intraco Refueling Station is set to transport stranded gas from Bhola Island to industrial boilers near the capital, providing a breakthrough in gas supply amid shortages. The company plans to supply compressed natural gas (CNG) to the Gazipur and Bhaluka industrial belts initially, alleviating the low piped-gas pressure in these areas.

CrackPlatoon Unveils First Commercial EV Charging Station

November 29, 2023
CrackPlatoon Charging Solution Ltd., in collaboration with Dhaka Electric Supply Company Limited (DESCO) and Sumatra Filling Station, has inaugurated the first commercial electric vehicle (EV) charging infrastructure at Manikdi, Dhaka Cantonment.

Shopping cart

0
image/svg+xml

No products in the cart.

Continue Shopping

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here